Trading Stock around the Clock: The Future Growth of Global Electronic Markets

Autor:	William C. Freund
Rok vydání:	1991
Předmět:	Alternative trading system Trading turret Financial economics Strategy and Management computer.software_genre Electronic trading Open outcry Commerce Economics Dark liquidity Trading strategy Algorithmic trading High-frequency trading computer
Zdroj:	California Management Review. 34:87-102
ISSN:	2162-8564 0008-1256
Popis:	People-intensive physical floors for trading listed stocks are on their way out as financial markets become more institutional and computerized. So far, the NYSE has been the premier international equities market, but its position is being jeopardized by aggressive competitiors. Someday, there will be around-the-clock, around-the-world automated stock trading. But the simple assumption that such trading lurks around the corner ignores a number of complicating factors. The emerging market configuration will depend on a threshold volume of after-hours trading, the listing of global companies in electronic markets, access for all brokers and dealers, vastly improved clearing and settlement procedures, the effective dissemination of trading information, and the international adoption of appropriate rules and regulations. The race to become the dominant international equity market place will be decided by entrepreneurs responding to these powerful new competitive forces.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::01d9867dd4d4099378e2db0a4a3d8d5f https://doi.org/10.2307/41166685 Zobrazit plný text záznamu Plný text ve formátu PDF